Housing Wire

NOVEMBER 13, 2024

Founder and CEO Vishal Garg made a eye-popping statement when he opined that “in the next 10 years, 99% of the (mortgage) tasks will be completed by bots and 1% by humans.” “The bulk of the tasks that are required to process a mortgage are going to be performed by AI bots over the next 10 years,” Garg said in an interview with HousingWire.

Mortgages 368

Mortgages Loan Officer Loans Technology 368

Housing Wire

DECEMBER 20, 2024

The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? Four months later, the branch was still struggling, and worse, my top loan officer now the branch manager quit.

Industrial 387

Industrial Loan Officer Mortgages Loans 387

Housing Wire

NOVEMBER 21, 2024

Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.

Mortgages 368

Mortgages Loan Officer Equity Lending 368

Housing Wire

JANUARY 3, 2025

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.

Mortgages 418

Mortgages Lending Loan Officer Loans 418

Housing Wire

MAY 21, 2024

NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans.

Loan Officer 459

Loan Officer Loans Brokerage Equity 459

Housing Wire

MARCH 14, 2025

The mortgage professional of the future goes beyond the transaction. Our mortgage industry is experiencing a fundamental shift. Traditional loan officers who focus solely on transactions are being replaced by mortgage professionals who act as financial strategists, long-term advisors, and educators.

Mortgages 344

Mortgages Loan Officer Marketing Loans 344

Housing Wire

FEBRUARY 3, 2025

The combined cost of mortgages, taxes and insurance now takes up a larger share of household income than it has since the early 1980s, according to an affordability index from John Burns Research & Consulting. It also ties into architects and builders creating smaller, denser homes to help close the affordable housing supply gap.

Debt-to-income ratio 373

Debt-to-income ratio Loans VA loan FHA loan 373

Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S. economy remains hot.

Loan Officer 448

Loan Officer Loans Mortgages As-is 448

Housing Wire

DECEMBER 20, 2023

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. It was late 2022 and Mike was feeling the pressure. The lower comp rate stung.

Loan Officer 482

Loan Officer Loans Lending Mortgages 482

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. Steinway, who closed more than $1.5 NAF, the 31st largest mortgage lender in America in 2023, according to Inside Mortgage Finance, has been in growth mode.

Loan Officer 447

Loan Officer Loans Finance Mortgages 447

Housing Wire

NOVEMBER 9, 2022

The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips. Charting the loan officer exit. million. .

Loan Officer 435

Loan Officer Loans Mortgages Industrial 435

Housing Wire

OCTOBER 28, 2024

Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index.

Loan Officer 434

Loan Officer Pre-approval Technology Loans 434

Housing Wire

MARCH 19, 2025

Better ‘s fourth-quarter and full-year 2024 earnings call showcased the company’s growing revenue and its plans to further integrate artificial intelligence into the mortgage process. And that’s pretty groundbreaking for the mortgage industry. I see us being 40 times more productive for our loan officers.

Loan Officer 284

Loan Officer Mortgages Loans Equity 284

Housing Wire

AUGUST 12, 2024

Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. years after the Texas-based lender changed ownership and nine months after it exited the reverse mortgage business. “Every single loan officer has been paid per their compensation agreement. In June, the U.S.

Closing 459

Closing Mortgages Loan Officer Loans 459

Housing Wire

OCTOBER 18, 2024

In this week’s episode of the Power House podcast , HousingWire President Diego Sanchez speaks with Steve Jacobson, CEO of Fairway Independent Mortgage Corp. The duo also discusses Fairway’s status as a top 15 mortgage lender even after its decision to leave the wholesale channel. As consumers, we expect instant everything.

As-is 445

As-is Loan Officer Loans Mortgages 445

Housing Wire

DECEMBER 18, 2024

CreditXpert , a leading mortgage technology company, announced on Wednesday the launch date for its new credit optimization platform. The new credit optimization platform will combine the best parts of the What-if Simulator and Wayfinder tools, giving mortgage professionals the power to reach more clients and close more loans.

Loan Officer 396

Loan Officer Loans Technology Mortgages 396

Housing Wire

MARCH 5, 2025

1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage , the company announced Tuesday. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. 1 mortgage company in America. Shant Banosian, ranked the No.

Loan Officer 435

Loan Officer Loans Technology Mortgages 435

Housing Wire

JUNE 6, 2023

and home prices still near record highs, homebuyers are demanding that their loan officers provide options to lower monthly mortgage payments as much as possible. Barnes, a branch manager at Mann Mortgage , recently had a client who planned to live in a new home for five years before selling it. With rates around 6.9%

Loan Officer 397

Loan Officer Loans Seller concession Pre-approval 397

Housing Wire

NOVEMBER 15, 2024

Should the goal of marketing technology be to make it so that a loan officer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Empowerment, not detachment, is the path forward.

Loan Officer 365

Loan Officer Loans Marketing Title 365

Housing Wire

MAY 30, 2023

And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. Blend’s mortgage banking software processed 23.2% Artificial intelligence (AI) is a buzzword in virtually every industry right now.

Loan Officer 417

Loan Officer Loans Banks Technology 417

Housing Wire

MARCH 20, 2025

Rocket Companies hopes to close a $1.75 It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage ‘s pending $1.75 After the deal was announced, CEO Varun Krishna told investors that he expects a lift in purchase mortgage growth after the deal closes. billion deal for Redfin.

Mortgages 243

Mortgages Loan Officer Brokerage Loans 243

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns. . According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

Seller concession 529

Seller concession Mortgages Loan Officer Loans 529

Housing Wire

MAY 2, 2024

loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. ” According to Scotsman Guide , Potempa was the No. million. .

Loan Officer 448

Loan Officer Mortgages VA loan Lending 448

Housing Wire

NOVEMBER 4, 2024

Angela is the 11th-ranked agent in the state by sales volume, closing 38 sides and $29.82 Mortgage butterflies As confident and comfortable as I was in the home search process and the paperwork involved in signing on with an agent, I was not feeling great about the mortgage preapproval and application process.

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Purchase and sale agreement Inspection contingency Inspection Title 435

Housing Wire

MARCH 21, 2025

.’ In a presentation for investors , Rocket outlined how its acquisition of Redfin will help the company create a more seamless and affordable way for consumers to transact real estate, showing how it will take consumers from the home search phase all the way through title and closing. But Zillow has that recognizable consumer brand.

Loan Officer 265

Loan Officer Loans Mortgages Title 265

Housing Wire

FEBRUARY 11, 2025

The initial digital integration involved reports, pay stubs and W-2s to the more than 370 mortgage companies and 52,000 loan officers that rely on nCino to manage the loan application process. Hardesty expects the integration updates will drive greater adoption among mutual lender customers.

Loan Officer 350

Loan Officer Loans Mortgages Residential 350

Housing Wire

JANUARY 4, 2023

More than 160 employees from the now-shuttered Finance of America Mortgage have landed at Go Mortgage , a Columbus, Ohio-based lender. In the coming months, more former FoA employees are expected to “trickle in” to Go Mortgage’s retail division, which will bring the total number to 200. Go Mortgage originated $753.2

Mortgages 508

Mortgages FHA loan Loan Officer Construction 508

Housing Wire

SEPTEMBER 16, 2022

Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. Mortgage Marketing Radio.

Loan Officer 435

Loan Officer Mortgages Lending Loans 435

Housing Wire

APRIL 4, 2025

An illustration of a mortgage executive losing a top-producing LO who wishes to become a 1099 LO. Doing so would close what he described as the 1099 loophole. The mortgage executive who called was initially excited because he feels like hes abiding by the rules of Dodd-Frank in classifying his LOs as W2 employees.

Pre-approval 300

Pre-approval Loan Officer Loans Brokerage 300

Housing Wire

DECEMBER 18, 2023

The Federal Communications Commission (FCC) last week released a new order amending its “express consent” rules for the Telephone Consumer Protection Act (TCPA), which closes the “lead generator loophole” used by mortgage professionals to connect with potential business leads. We now have a time clock of about six months.

Closing 459

Closing Mortgages Industrial Loan Officer 459

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Loan Officer 418

Loan Officer Mortgages Loans Closing costs 418

Housing Wire

JUNE 11, 2024

Department of Housing and Urban Development (HUD) has terminated the Federal Housing Administration (FHA) direct endorsement approval for Open Mortgage in Iowa. “HUD Texas-based multichannel lender Open Mortgage has originated about $400 million in mortgages over the past 12 months, per mortgage tech platform Modex.

FHA loan 475

FHA loan Mortgages Loan Officer Loans 475

Housing Wire

SEPTEMBER 25, 2024

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. The data includes employees at parent companies and subsidiaries, in mortgage lending, servicing and other activities.) Image created by AI in Midjourney.)

Industrial 459

Industrial Mortgages Loan Officer Loans 459

Housing Wire

MAY 1, 2023

Maxwell , the mortgage fintech backed by Wells Fargo and Fin Capital, has launched Maxwell Single-Sign On, an SSO (single sign-on) tool for lenders to enhance security and reduce the risk of data breaches, the company announced on Monday. This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.

Loan Officer 417

Loan Officer Mortgages Technology Loans 417

Housing Wire

APRIL 29, 2024

” Republic collapsed after it failed to raise $75 million in capital from investors and exited the mortgage lending space. Republic had an active business that specialized in jumbo mortgage products. Ultimately, it originated about $50 million in mortgages in 2023, per mortgage tech platform Modex.

Banks 437

Banks Closing Loan Officer Loans 437

Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. This interview has been edited for length and clarify. None of them are accurate.

Loan Officer 370

Loan Officer Loans Technology Mortgages 370

Housing Wire

JUNE 11, 2024

1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. About one in three complaints had to do with borrowers “struggling to pay their mortgage,” of which a portion were specifically related to foreclosures. Reverse mortgage accounted for 1.4%

Mortgages 446

Mortgages Loan Officer Loans Finance 446